Serial

South Asia Economic Focus, Fall 2020 : Beaten or Broken? Informality and COVID-19

Show simple item record

collection.link.216
https://openknowledge.worldbank.org/handle/10986/11978
collection.name.216
South Asia Economic Focus
dc.contributor.author
World Bank
dc.date.accessioned
2020-09-25T17:19:14Z
dc.date.available
2020-09-25T17:19:14Z
dc.date.issued
2020-10-08
dc.date.lastModified
2020-10-09T15:22:49Z
dc.description.abstract
The COVID-19 pandemic, which is still impacting South Asia, has temporarily brought the region to a near standstill. Governments proactively stabilized activity through monetary easing, fiscal stimulus, and supportive financial regulation, but the situation is fragile amid weak buffers and exhausted policy tools. South Asia’s GDP is expected to contract 7.7 percent this year, by far the largest decline on record, but uncertainty around the forecast is substantial. The informal economy in South Asia has been hit hard. Many unorganized workers, self-employed people and microenterprises have experienced a large drop in earnings as the service sectors that were affected most by the lockdowns are dominated by informality. Informal workers and firms tend to have inadequate mechanisms for coping with short-term demand and supply interruptions due to limited savings and constrained access to finance. While the poor have suffered severely during the crisis, many informal workers in the middle of the income distribution have experienced the greatest drop in earnings. Most of them are not covered by social insurance. The crisis lays bare complicated structural problems in the informal sector that need to be addressed.
en
dc.identifier
https://documents.worldbank.org/en/publication/documents-reports/documentdetail/898231602225467182/south-asia-economic-focus-fall-2020-beaten-or-broken-informality-and-covid-19
dc.identifier.isbn
978-1-4648-1640-6
dc.identifier.uri
http://hdl.handle.net/10986/34517
dc.publisher
Washington, DC: World Bank
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC POLICY
dc.subject
ECONOMIC RISKS
dc.subject
EXTERNAL BALANCE
dc.subject
FISCAL TRENDS
dc.subject
INFLATION
dc.subject
INVESTMENT
dc.subject
MACROECONOMIC POLICY
dc.subject
TRADE POLICY
dc.subject
CORONAVIRUS
dc.subject
COVID-19
dc.subject
PANDEMIC IMPACT
dc.subject
PANDEMIC RESPONSE
dc.subject
INFORMALITY
dc.subject
LABOR MARKET
dc.title
South Asia Economic Focus, Fall 2020
en
dc.title.subtitle
Beaten or Broken? Informality and COVID-19
en
dc.type
Serial
en
okr.date.disclosure
2020-10-08
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Publication
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1016/978-1-4648-1640-6
okr.identifier.report
153600
okr.language.supported
en
okr.region.administrative
South Asia
okr.region.geographical
South Asia
okr.topic
Macroeconomics and Economic Growth :: Business Cycles and Stabilization Policies
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.topic
Macroeconomics and Economic Growth :: Economic Policy, Institutions and Governance
okr.topic
Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.topic
Poverty Reduction :: Employment and Shared Growth
okr.topic
Social Protections and Labor :: Employment and Unemployment
okr.topic
Social Protections and Labor :: Labor Markets
okr.unit
SARCE

Show simple item record



This item appears in the following Collection(s)